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Evening Market Overview on June 12: Positive Jobless Claims + Accurate Prediction by SOL Again
Jobless claims for the week were released at 24.8, previous value 24.8, expected 24, positive
PPI monthly rate released at 0.1, previous value -0.2, expected 0.2, positive
These two data points again confirm a 77% probability of at least 2 rate cuts by the Federal Reserve this year, waiting for rate cuts and the big bull to come
SOL has been saying for the past two days that there is an opportunity to retrace near 157.09; as long as it doesn't break, we can continue to enter long positions to take advantage of this strong support level. It didn't reach yesterday, but tonight there are two opportunities to get in, so we must remain flexible and adapt. The target remains at 162, 165.14, just defend the cost
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